Shipbuilder Drydocks World, a unit of Dubai World, has proposed repaying creditors in five years and is seeking more working capital as it tries to restructure a $2.2 bln loan facility, ending lengthy and complex debt talks.
March 10, 2012 4:55
Dubai's ship building unit Drydocks World, in negotiations to restructure a $2.2 billion loan facility, will present terms of the proposal to lenders on March 8, seeking to put an end to the long-drawn and complex debt talks.
March 1, 2012 1:42
He deserves his day in court, for sure. But does the former Nakheel CEO deserve his benefits and pay after given the company was pretty much sinking in the red?
December 20, 2011 12:59
Drydocks eyeing payment extension of 5-8 years; No financial support sought from Dubai govt
December 20, 2011 10:57
Dubai port operator DP World has reopened its Ain al-Sokhna port in Egypt after a temporary shutdown caused by labour strikes, the head of the Red Sea Ports Authority said on Monday.
September 26, 2011 2:27
A special tribunal set up to hear disputes over Dubai World's debt restructuring may not hear cases against former unit Nakheel after the government took over the troubled property developer in August.
September 26, 2011 2:14
Nakheel is restructuring $10.9 bln with creditors; Will provide term sheet to bank lenders for final approval; Says restructuring process is nearing completion
March 23, 2011 3:21
Dubai World sets interest rate at 2.4 percent; Repayment will be issued in two tranches
March 23, 2011 3:11
Dubai World is signing its deal with its last creditor next week – whoopee! Wait; weren’t we excited about this five months ago, when we first heard about the completed debt restructuring?
March 10, 2011 3:15
New legislation intended to replace current laws
February 28, 2011 3:52
Drydocks World, unit of Dubai World about to enter into discussions with representatives of its lenders
January 22, 2011 2:54
Kipp is thinking that a sinking of the World islands in Dubai may be no bad thing.
January 20, 2011 4:23
Good news: This week some of the big boys say they expect to return to profit this year. Still a wee bit of debt to worry about, but it’s a start.
January 19, 2011 5:38
Communication and housing costs fall.
January 19, 2011 10:35
Problems seen in raising fresh capital through bank loans.
December 23, 2010 4:22